An industrial loan company shall maintain a register of all repossessions of personal property including property voluntarily surrendered by a borrower. The register shall show at least the date of repossession, loan number, name of borrower, description of the property and the date of sale or disposition of the property.

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18029, Financial Code.

History

1. Change without regulatory effect adding new article 11 (sections 40.1100-40.1105), renumbering former section 1221 to new section 40.1100, and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).